MMK’s crude steel output down 2.9 percent in Q1

Friday, 19 April 2024 14:11:30 (GMT+3)   |   Istanbul
       

Russian steelmaker MMK Group has released its operational results for the first quarter this year.

Accordingly, in the first quarter, the company’s crude steel output totaled 2.97 million mt, decreasing by 4.7 percent quarter on quarter due to seasonal factors. MMK’s crude steel output fell by 2.9 percent year on year due to a decrease in steel demand amid repair works at the rolling mill.

The company’s pig iron production in the first quarter declined by three percent compared to the previous quarter totaling 2.43 million mt, due to the ongoing overhaul of blast furnace No. 8, while pig iron production remained unchanged compared to the same period of 2023.

In the given quarter, MMK’s steel sales totaled 2.73 million mt, down by 5.5 percent compared to the previous quarter, amid the ongoing repairs at the blast furnace and rolling mills, and moved down by 1.1 percent year on year due to the repair works. In addition, the company’s premium product sales came to 1.05 million mt, down by 12.0 percent quarter on quarter and by 10.4 percent year on year, mainly due to a decrease in the production of cold rolled and coated products amid the overhaul of pickling units and continuous hot-dip galvanizing units.


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